Milestone for Lula da Silva: Brazil is now the ninth largest economy in the world, surpassing Canada

2023-12-20 03:37:48

Lula da Silva in a file image. Photo: Ricardo Stuckert

Brazil has made impressive progress by overtaking Canada, consolidating itself in ninth position among the largest economies in the world this year, according to the recent ranking published by the International Monetary Fund (IMF).

President Luiz Inácio Lula da Silva did not miss the opportunity to express his insightful comment on social media, stating: “They don’t know the work that needs to be done to be so lucky.” An ironic message addressed to those who attribute luck to his three mandates and his influence on the finances of Brazil, the main economic power in Latin America.

Brazil recovers the greatness lost by Bolsonaro

The IMF reveals that Brazil had dropped out of the top 10 of the largest economies in 2020, during the second year of the administration of former president Jair Bolsonaro, ranking in position number 12. However, this year marks an impressive resurgence by reaching ninth position , demonstrating the resilience of the Brazilian economy.

Remembering recent history, between 2009 and 2014, during the end of Lula’s second term and the beginning of Dilma Rousseff’s administration (2011-2016), Brazil reached sixth position in the world’s Gross Domestic Product (GDP), even surpassing to the United Kingdom.

The ranking of the world’s top 20 economies for 2023 is led by the United States, followed by China, Germany, Japan and India. Brazil is positioned in ninth place, marking its triumphant return to the select group of the most influential nations in economic terms. This achievement not only reflects the strength of its economy, but also its ability to face challenges and adapt to global dynamics.

A growing global economy

The report details that Brazil’s Gross Domestic Product (GDP) is estimated at $2.13 trillion by 2023. This data underlines the country’s continued growth and capacity to generate wealth and prosperity. President “Lula” Da Silva celebrated this achievement on social media, highlighting the hard work and resilience of the Brazilian people.

Brazil, with its resurgence in the global economic arena, promises a bright future. This rise in the ranking is not only a significant milestone for the South American nation, but also a good boost for the region and for the MERCOSUR bloc, which has been disengaged and blocked for months.